[MARKET ANALYSIS] Oil prices are underpinned after US and Iran conducted a fresh round of retaliatory strikes

Newsquawk StaffOil newsPublished 9 Sept 2026, 02:42 UTC

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03:04

[MARKET ANALYSIS] DXY is little changed ahead of inflation data later in the week and despite the US announcing an import ban on some Canadian goods as trade war escalates

02:38

[MARKET ANALYSIS] T-note futures are little changed after yesterday's indecisive mood and with key inflation data due later this week

02:22

[MARKET ANALYSIS] Oil prices are underpinned after US and Iran conducted a fresh round of retaliatory strikes

02:18

IRGC says it attacked two US vessels, eight oil vessels and ten violating ships with the intention of crossing the prohibited and unsafe area of the Strait of Hormuz

01:59

Data showed six commodity vessels transited through the Strait of Hormuz on Tuesday vs 10-day average of about 12

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WTI/Brent: WTI Oct'26 +1.4% / Brent Nov'25 +1.5%

Oil prices shrugged off the prior day's choppy mood and extended on recent gains, with upside facilitated after the US and Iran exchanged another round of retaliatory strikes, in which US forces destroyed five Iranian crude oil carriers, and Iran launched at least 20 missiles targeting bases in Jordan.

Gold: +0.5%

Rebounded from an early trough but remains beneath the USD 4,400/oz territory amid inflationary headwinds from higher oil prices and as participants await US inflation data later in the week.

Copper: -0.9%

Prices eased back overnight as LME futures retreated from their recent record levels and following the subdued mood during US trade.

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